Palos Verdes Luxury Home Market Report May 2017

New Construction Luxury Homes in Rancho Palos Verdes, CA

One of my clients has a Palos Verdes luxury home in escrow. He is one of the fortunate, as there are 66 Palos Verdes luxury homes currently for sale. Eleven Palos Verdes high-end homes are in escrow with accepted offers, and 15 Palos Verdes homes priced over $3MM have sold year-to-date on the Palos Verdes Peninsula.

The Palos Verdes luxury home market remains in a neutral market favoring neither the seller nor the buyer.

The breakdown of 2017 Palos Verdes luxury home sales as of May 2017 by the city:

Palos Verdes Estates: 12

Rolling Hills: 2

Rancho Palos Verdes: 1

Rolling Hills Estates and the unincorporated areas of the Palos Verdes Peninsula: 0

2017 appears to be Palos Verdes Estates’ year to dominate luxury sales on the Palos Verdes Peninsula. Since the median price of a single-family home in PVE is approaching $2MM, it’s not unexpected to see many homes selling above the $3MM price range.

Questions about selling or buying a Palos Verdes luxury home? Call me, and I’ll be happy to answer your questions or assist you in finding the person who can.

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Norma Toering is the broker-owner of Charlemagne Intl Properties a boutique real estate company in Los Angeles. She has been a local South Bay real estate agent since 1992. Norma is the most well known & award winning real estate blogger in Palos Verdes. Forbes magazine consulted Norma on Palos Verdes property values when compiling their Forbes 400 list.
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